Rural Advert!sing
"The soul of India lives in its villages" - Mahatma Gandhi
India has a sizable and continuously expanding rural ecology. About half of the country's GDP in 2019–2020 came from the rural economy, which employs 350 million people (68% of the labour force overall). The rural ecosystem has expanded at a rate of about 10% per year (p.a.) during the past five years, and there is still plenty of potential to grow. Additionally, there has been a notable surge in the availability of loans within the rural ecosystem. Over the last five years, Agri credit has increased by around 10%, from INR 8 lakh Cr in FY15 to INR 14 lakh Cr in FY20. In March 2021, the gross loan portfolios of rural microfinance increased to around INR 146.7K Cr from March 2020 of approximately INR 132.9K Cr.
As per Fourth Advance Estimates for 2021-22, the production of food grains in the country is estimated at 315.72 million tonnes which is higher by 4.98 million tonnes than the production of food grain during 2020-21. The production during 2021-22 is higher by 25 million tonnes than the previous five years' (2016-17 to 2020-21) average production of food grains. Total production of Rice during 2021-22 is estimated at record 130.29 million tonnes. It is higher by 13.85 million tonnes than the last five years' average production of 116.44 million tonnes.
Production of wheat during 2021-22 is estimated at 106.84 million tonnes. It is higher by 2.96 million tonnes than the last five years' average wheat production of 103.88 million tonnes. production of Nutri / Coarse Cereals estimated at 50.90 million tonnes, which is higher by 4.32 million tonnes than the last five years' average production of 46.57 million tonnes. Total pulses production during 2021-22 is estimated at record 27.69 million tonnes which is higher by 3.87 million tonnes than the last five years' average production of 23.82 million tonnes. (Sources : Annual Report 2022-23, Ministry of Agriculture).
Indian Rural Markets
Badhti ka naam, India ka Rural Market! The growth of India’s rural market is undeniable, emerging as a key contributor to the country’s economic vitality. The vast and diverse rural landscape of India poses distinctive challenges and opens up unique opportunities within the constantly evolving realm of rural marketing. Within nearly two-thirds of the Indian population residing in rural India, companies aiming for global expansion and sustainable growth ek baar toh samajh gaye hai ke, ‘Rural Market ki tez pragati aur taaqat par, kabhi sandeh nahin karte’. Indian agricultural brands are employing a myriad of strategies to research and extend their reach within rural marketing, effectively tapping into the rich potential of these markets.
These strategies aim to meet the specific requirements and preferences of rural consumers while taking into account the distinct characteristics of the rural market. To ensure Kisans and other key stakeholders, such as retailers and wholesalers, utilise their products to the fullest potential, several agricultural brands provide educational programs and extension services.
This involves disseminating knowledge about the latest farming methods, best practices, and the efficient application of agricultural inputs. Brands have recognized how crucial it is to utilise digital platforms for spreading information in rural marketing. The importance of leveraging digital platforms for information distribution is increasingly acknowledged. Agricultural brands now provide farmers with timely information, weather updates, and advisory services via online platforms, text messaging, and mobile apps. Furthermore, these brands actively engage with the rural community by participating in local fairs, festivals, and events. These gatherings serve as opportunities to showcase products, conduct marketing, and gather valuable feedback.
